The Deputy Governor of CBN on Financial System Stability was announced the new chairman of Etisalat Nigeria in a press release by the company Tuesday, July 4.
“Etisalat Nigeria today confirms that as a result of the on-going restructuring efforts, a new board has been constituted. It comprises of Joseph Nnanna – Chairman, Oluseyi Bickersteth, Ken Igbokwe, Boye Olusanya and Funke Ighodaro,” the release states.
Nnanna is currently the Deputy Governor of CBN on Financial System Stability.
This move was noted as part of the strategies by the consortiums of lenders and the regulators – Central Bank of Nigeria (CBN) and Nigerian Communication Commission (NCC), to put the company on the path of long-term growth and success.
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“The decisions reached so far reflect the high confidence all the stakeholders have in the continued viability and sustainability of the business.
“The smooth transition is also proof of management’s commitment to ensuring that the operations of the company run seamlessly, and customers continue to enjoy superior network quality and positive customer experience.”
It would be recalled that the company transfer 45% equity stake to the creditors on June 20, 2017, after the failed debt restructuring talks.
Earlier in the week, sources close to the Etisalat Nigeria deal informed that two international telecommunication giants, Orange Communications and Vodafone, are interested in buying the company.
On June 30th as reported by Businessamlive, Hakeem Bello-Osagie resigned as the chairman of the telecommunication company following the approval of a restructuring plan for the firm.